Item 1A. Risk Factors

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Item 1A. Risk Factors

For a discussion of our risk factors, see the section entitled “Risk Factors” in our 2024 Annual Report on Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Recent Sales of Unregistered Securities

None.

Issuer Purchases of Equity Securities

We made the following share repurchases during the first quarter of fiscal 2025:


ISSUER PURCHASES OF EQUITY SECURITIES
Period	Total Number of Shares Purchased (1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
Month #1
June 30 - July 27	525,861	$	71.71	525,861	—
Month #2
July 28 - August 24	419,415	75.69		419,415	—
Month #3
August 25 - September 28	494,376	77.06		494,376	—
Totals	1,439,652	$	74.71	1,439,652	—


(1)			The total number of shares purchased includes no shares tendered by individuals in connection with stock option exercises Month #1, Month #2 and Month #3.
(2)			See the discussion in Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Equity Transactions” for additional information regarding Sysco’s share repurchase program.

On May 20, 2021, our Board of Directors approved a share repurchase program to authorize the repurchase of up to $5.0 billion of the company’s common stock, in which the program will remain available until fully utilized.

We repurchased 1,439,652 shares for $108 million during fiscal 2025. As of September 28, 2024, we had a remaining authorization of approximately $2.7 billion. We repurchased 20,413 additional shares under our authorization through October 11, 2024.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

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